Press Release

Ministry of Finance
Rehabilitation and Reconstruction Loan
Release Date:
Friday, 3 August 2018 - 4:26pm

Financial Secretary, Mr. Glenroy Forbes is urging contractors and other tenderers to become familiar with the guidelines for contracts funded by the Caribbean Development Bank (CDB).

Mr. Forbes while addressing participants at a CDB Procurement Workshop this week said it was important that they take advantage of the knowledge shared by the experts on how to effectively bid for Caribbean Development Bank (CDB) funded contracts.

Mr. Forbes said, “I encourage you the participants to grasp this opportunity with an open mind; and that you use it wisely. The facilitators are here to assist you and to provide the necessary support. Remember, procurement is my business; it’s your business; it’s everybody’s business.”

The Financial Secretary recalled the results of the past CDB-funded projects’ procurement processes; noting that contractors and other tenderers were not familiar with the bank’s guidelines.

Mr. Forbes said “This procurement fair provides an excellent opportunity for contractors, services providers and other vendors gathered here to gain a better understanding of the guidelines and requirements for projects and initiatives that will be tendered under this loan agreement. It also allows for you to understand the scope of these projects and initiatives, to dialogue with the relevant ministries assigned to these projects and initiatives, and to provide a platform for you to network among your colleagues, the ministries, and the bank’s representatives.”

The Financial Secretary assured the participants that the Ministry of Finance is working diligently to ensure the conditions for accessing the loan funds are met and that projects will be available soon for bidding.

Mr. Forbes added that the project team has been working feverishly in the background to satisfy all required preparatory work to engage consultants where necessary, and to bring the projects to a point where they can be constructed.

He said, “This includes developing and evaluating expressions of interest, performing elaborate shortlisting exercises for the twenty-plus consultancies that are a part of the project, agreeing and finalising terms of reference with the relevant ministries, and developing and issuing Requests for Proposals to engage consultants to design and prepare the projects.”

The Government of the Virgin Islands formally launched the Caribbean Development Bank Rehabilitation and Reconstruction loan project in April 2018. This project is the first major funding towards the development of the Territory after the passage of the disaster events of 2017.


Photo Caption: Financial Secretary, Mr. Glenroy

Audio Clip 1:3- Snippet of remarks by Financial Secretary Glenroy Forbes

Audio Clip 2:3- Snippet of remarks by Financial Secretary Glenroy Forbes

Audio Clip 3:3 - Snippet of remarks by Financial Secretary Glenroy Forbes


Sheriece T. Smith

Information Officer II 
Dept. of Information & Public Relations 
Telephone: 468- 2740